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  "documentTitle": "IperionX Ltd. (IPX)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2025-11-12 00:00:00",
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  "notes": "The table tracks acreage disclosures over time, highlighting a specific period of write-offs in mid-2025.",
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      "text": "The TN mining permit was issued for the fully permitted project in August 2023 and for just 308 acres. However, IPX has been steadily increasing its land ownership to cover 1,486 acres or nearly 5x the size of the permit.",
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      "text": "Total Acreage Options: 1,486",
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      "text": "The TN mining permit was issued for the fully permitted project in August 2023 and for just 308 acres. However, IPX has been steadily increasing its land ownership to cover 1,486 acres or nearly 5x the size of the permit.",
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      "text": "IPX said in its quarterly filing \"During the quarter, approximately 84 acres of optioned properties were exercised and converted into long-term leases and approximately 616 acres of optioned properties were extinguished.\" — IPX filings",
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      "text": "Source: IPX filings. 1) IPX said in its quarterly filing...",
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      "text": "Why Own/Lease Substantially More Acres Than The Project Is Permitted For?",
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